Jefferies Bache set for first redundancies

The first wave of redundancies from Bache is set to take place next week

US bank Jefferies is set to complete next
week the first round of redundancies from its Bache business
two months after putting most of its 300 Bache staff at risk of
redundancy.

Jefferies is set next week to part company
with about ten brokers from its Bache business, according to
sources, marking the first departures from the firm that cut a
deal in April to move some clients and staff to Societe
Generale.